ZeroSpace Leases Industrial Space At 345 Butler Street Brooklyn With Jon Kamali & Brad Cohen As Brokers
345 Butler Street,Brooklyn,New York
$50
$50/SF
Building Size
61,500 SF
Asset Type
Industrial
Closing
Jan 1, 2023
AI
The industrial property located at 345 Butler Street in Brooklyn has recently been leased. The tenant, ZeroSpace, has signed a lease agreement with the landlord, Kenneth Chan. The property spans a total of 61,500 square feet. The asking rent for the space is $50 per square foot. This lease agreement was facilitated by brokers Jon Kamali from J3K Real Estate and Brad Cohen from CBRE.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Lease
- Date: 01/01/2023
- Address: 345 Butler Street
- Market: Brooklyn
- Landlord: Kenneth Chan
- Tenant: ZeroSpace
- Brokers: Jon Kamali - J3K Real Estate, Brad Cohen - CBRE
- Asking Rent: $50 per square foot
- Square Footage: 61,500
Jon Kamali from J3K Real Estate and Brad Cohen from CBRE played a crucial role as brokers in this lease transaction. They worked on behalf of the tenant and the landlord, respectively, to negotiate favorable terms and ensure a successful deal. Their expertise and experience in the real estate market were instrumental in finalizing the agreement between ZeroSpace and Kenneth Chan.
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93